EUR 110 million credit line facility was developed by the European Bank for Reconstruction and Development (EBRD), supported by the European Union (EU) and launched in 2015 in cooperation with the European Investment Bank (EIB), the Agence Française de Développement (AFD), and the Kreditanstalt für Wiederaufbau (KfW)
The facility, providing financing to local partner financial institutions that on-landed funding to 257 sustainable energy projects in the Moroccan private sector small and medium sized businesses and corporates. Investments were used for energy efficiency and renewable energy projects, such as stand-alone small scale renewable energy projects, commercial energy efficiency investments, building sector energy efficiency and/or renewable energy investments.
Overall, the facility’s investments in projects have contributed to saving more than 284,079 MWh/year of final energy and 87,275 Tons of CO2 per year.
Loans were provided by 2 participating financial institution groups: Bank of Africa-Groupe BMCE and its leasing affiliate Maghrebail, and Group Banques Populaires and its leasing affiliate Maroc Leasing.
Comprehensive technical assistance, funded by the European Union Neighbourhood Facility EU NIF and by the EBRD Southern and Eastern Mediterranean (SEMED) Multi-Donor Account provided Advisory services to partner financial institutions and included training, capacity building, marketing support, support in the design of thre lending product and the successful implementation of the facility. In case of sub-borrowers, the advisory services focused on energy assessments, selecting the best technical solutions and supporting implementation of their projects.
Incentive payment, funded by the European Union Neighbourhood Facility EU NIF was provided participating in the facility and to sub-borrowers to promote successful implementation of the facility.
· See borrower’s success stories in Morocco
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